UK IT Channel News | IT Channel Oxygen
  • News
  • Topics
    • Vendor
    • Distributor
    • Partner
    • Indepth
    • Sustainability
    • M&A
    • People Moves
    • AI
    • Tech trends
  • Sustainability
  • About Us
  • Partner with us
Members
Must-Know Distributors
Oxygen 250
No Result
View All Result
  • News
  • Topics
    • Vendor
    • Distributor
    • Partner
    • Indepth
    • Sustainability
    • M&A
    • People Moves
    • AI
    • Tech trends
  • Sustainability
  • About Us
  • Partner with us
No Result
View All Result
UK IT Channel News | IT Channel Oxygen
No Result
View All Result
Home M&A

Exclusive: Econocom acquires assets of fallen AV integrator Smartcomm

£20m-revenue integrator went under in February following winding-up petition from HMRC

Oxygen staff by Oxygen staff
7 May 2025
in M&A, News, Partner
Exclusive: Econocom acquires assets of fallen AV integrator Smartcomm

Image by bertholdbrodersen from Pixabay

Share on LinkedinShare on Twitter

Econocom has bolstered its UK audio-visual capabilities by snapping up the business and assets of Smartcomm, IT Channel Oxygen can reveal.

High Wycombe-based Smartcomm went into administration on 21 February following a winding-up petition from HMRC the previous month.

Serving the commercial and residential sectors, it turned over £22.9m in calendar 2022, employing an average of 107 staff that year.

Now, an Administrators’ Statement of Proposals has revealed that its business and assets were snapped up by Econocom Products & Solutions for £300,000 plus VAT on 25 March.

The UK has been singled out for further M&A as Econocom chases its €4bn 2028 revenue target, new UK CEO Gavin Bell told IT Channel Oxygen in November.

Despite being a near-€100m business in the UK, the France-headquartered IT solutions provider is eager to accelerate growth more quickly here than elsewhere, he indicated.

“We’re looking at broadening out that capability through another couple of acquisitions in the audio visual and MSP space to give us the same breadth of capability in the UK that we have in some of our more established countries, like France, Belgium, Italy and Spain,” Bell said at the time.

Gavin Bell, Econocom
Gavin Bell, Econocom

The skinny on Smartcomm

HMRC issued a winding-up petition against Smartcomm – which served the commercial and residential & hospitality sectors – on 14 January for £1.84m in respect of PAYE, NI and VAT.

Before the winding-up petition, Smartcomm had held “extensive talks” for a solvent sale to a potential acquirer, the Statement of Proposals revealed.

Had the petition been withdrawn and the sale concluded, this would have resulted in all creditors being paid in full and ensured the continuation of the company, it added.

Smartcomm’s invoice finance funder e-Capital Commercial Finance took steps to appoint administrators KRE Corporate Recovery after HMRC refused to back down.

It went under owing trade and expense creditors nearly £2.1m. Turnover for the year to 31 October 2024 fell to £15.8m, according to draft management accounts included in the Statement of Proposals.

Some nine interested parties signed NDAs in relation to purchasing Smartcomm’s business and assets.

More to follow…..

Tags: EconocomfeaturedSmartcomm
Previous Post

Could satellite networks like Starlink be the channel’s next supernova?

Next Post

Former Citrix exec to head up £170m-revenue MSP

Related Posts

Gordon Thomson, Cisco
People Moves

From account manager to EMEA President – meet Cisco’s new regional leader

9 July 2025
Gavin Bell, Econocom
M&A

Econocom buys an Irish AV firm, just like it said it would

9 July 2025
Guy Hocking, Utilize
Distributor

Give Ingram Micro breathing space, UK partner says after outage briefing

8 July 2025
Mark Lee, Sales Director, NormCyber
People Moves

Former Nasstar duo reunite at NormCyber

8 July 2025
Tom Stephens, Techary
Big Interview

‘Who’s this £25m VAR growing at 75%?’ – Techary CEO on its lightning growth

8 July 2025
Raymond Ma, Alibaba Cloud
AI

Alibaba Cloud lobs $60m at partners

7 July 2025
Phil Doye, boxxe
Big Interview

‘To be relevant, we have to scale’ – Doye reiterates £1bn goal following CAE deal

7 July 2025
Ingram Micro HQ
Cybersecurity

Ingram Micro working to restore systems after ransomware attack

6 July 2025
Next Post
Michelle Senecal de Fonseca, Redcentric

Former Citrix exec to head up £170m-revenue MSP

Follow Us

IT Channel Oxygen keeps you informed on the UK IT channel and its sustainable transformation. Learn more

  • About
  • Our Team
  • Partner with us
  • Privacy Policy
  • Terms & Conditions
  • News
  • Cookie Policy (UK)

© 2025 IT Channel Oxygen

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
View preferences
{title} {title} {title}
No Result
View All Result
  • Oxygen 250
  • Must-Know Distributors
  • Member area
  • KOcycle Zone
  • Big Interview
  • News
  • Indepth
  • About
  • Partner with us

© 2025 IT Channel Oxygen